what affects the price of bitcoin?

[Doctor]

bitcoin slowly went down this year, from almost 20k USD last December and went down at a significant price

what might be the reason why bitcoin's price is going down?
what are the major things that can greatly influence bitcoin?
answers would be fully appreciated

I think It is affect of the negative issue and many government ban bitcoin.But I think Bitcoin will rise again soon.

[altery0518]

May be one of the reason why bitcoin price is falling down is due to continue increase of the number of altcoins in the crypto market and instead of investing in bitcoin some investors a re selling their bitcoin investment and diverted their investment into new altcoins or  ain ICOs project.

[kurapika]

bitcoin slowly went down this year, from almost 20k USD last December and went down at a significant price

what might be the reason why bitcoin's price is going down?
what are the major things that can greatly influence bitcoin?
answers would be fully appreciated

Due to some government issue on banning bitcoin on other countries plus to add some hacking issues on exchanges that lead to panic those investors and sell their bitcoin at cheaper price.
It can also a reason of dumps from those big investors that already get profits after holding of many years as they bought their bitcoin at cheaper price and they wanted to get their profits while still at higher price.
So many issues that may affects the bitcoin price as those investors will follow on the issues around the crypto..bad news will hurt the market while good news will turn it into green.
Indeed, it's unpredictable market due to volatility.

[Putih]

I think global regulations and also negative news greatly contribute to the decline of bitcoin, and therefore the market is filled with panic sellers so that the price of bitcoin falls.

[bayiajaib]

bitcoin slowly went down this year, from almost 20k USD last December and went down at a significant price

what might be the reason why bitcoin's price is going down?
what are the major things that can greatly influence bitcoin?
answers would be fully appreciated

The major factor that affect bitcoin is demand and supply. If demand is High, The price will rise.

[rhubygold23]

bitcoin slowly went down this year, from almost 20k USD last December and went down at a significant price

what might be the reason why bitcoin's price is going down?
what are the major things that can greatly influence bitcoin?
answers would be fully appreciated

I think they many reason why bitcoin slowly going down. For me because i think they have other country is banned and they have other country close the bitcoin in there area that i think why bitcoin is going down the price. I search the site they have a reason why bitcoin is down. This is the link of site.

https://www.express.co.uk/finance/city/964720/bitcoin-price-news-why-is-BT-falling-today

Check the source why bitcoin going down.

[Claus]

What I have learnt is that there is group known as the Whales and they are those people who manipulate the market. The pump and then wait for people to sell and then they buy back.

[getit]

I thinknthere are several factors but the two most prominent may be government policies and media reports.
For instance a policy by a government to legalise btc in a country will attract more investors and hence a push in btc value and vice versa.